answersLogoWhite

0


Best Answer

Competition, profit, private property, and freedom of exchange.

User Avatar

Wiki User

12y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: What four things make the market system work in economics?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

Name the four pillows of modern economics?

Name the four pillows of modern economics?


What are the four division of economics?

what are the four division of business?


Four divisions of economics?

The four divisions of economics are: 1.production 2.distribution 3.consumption 4.exchange


What do you understand by the market?

market failure is a term used in Economics to denote a condition in which free markets are not able to perform under the certain preassumptions made by economists. The main four reasons for market failure are monopoly power,externalities,public good and information failure.


What do you understand by market?

market failure is a term used in Economics to denote a condition in which free markets are not able to perform under the certain preassumptions made by economists. The main four reasons for market failure are monopoly power,externalities,public good and information failure.


What are the different types of economics?

There are Market, Command (AKA Planned), And Mixed. In a Market Economy (Capitalism) Governments play a minor role. Command Economy (Often associated with Socialism and Communism) All major decisions are made by the government. Mixed Economy (Can be argued that it is the American System) Draws elements of both Market and Command to varying degrees.


What are the key elements of economics?

The four key elements of economics are description, analysis, explanation, and prediction. Mr. Talton Economics Teacher


What were the four things that each roman town had?

In a Roman town the 4 main things are a public bath,buildings and a massive market place.


The four levels of organization in living things?

The four levels of organization in living things are organ system, organism, structure, and function.the four levels of organization of living things are cells, tissue, organs,organ systems


Write four assumptions for your PPC model in economics?

Resources are fixed, All resources are fully employed, Technology is fixed & Only two things can be produced.


What are the four primary types of digital cameras on the market?

Compact camera, superzoom camera, System camera and DSLR


Describe the key elements of studying economics?

The four key elements of economics are description, analysis, explanation, and prediction. Four elements of economics. 1. Alodium (earth) 2. Liberty (water) 3. Currency (air) 4. Resource (fire)